Proactive Investors - Barclays PLC (LON:BARC) is drawing up plans to cut hundreds of jobs, as it trims costs while embarking on a wider strategy review, according to reports.
The British bank could cut as many as 400 jobs in its domestic retail business, a sources tol Reuters, but added that the numbers were not final.
Another source said the bank was planning investment bank cuts that were part of annual assessments of banker performance and that the two rounds of cuts were not related, adding that some retail staff could be redeployed or take voluntary redundancy.
A Barclays spokesperson told Reuters: "We do not comment on speculation. We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way."
Shares in the bank were 1% higher on Monday.